Sigma Planning Corp Purchases New Holdings in HP Inc. $HPQ

Key Points

• Sigma Planning Corp initiated a new stake in HP Inc. during the first quarter, buying 75,949 shares worth about $1.46 million.
• HP reported stronger-than-expected quarterly results, posting $0.86 EPS on $14.41 billion in revenue, both above analyst estimates, while revenue rose 9% year over year.
• The company announced a quarterly dividend of $0.30 per share, implying an annualized yield of about 4.8%; meanwhile, analysts currently have a consensus rating of “Reduce” on the stock.

Sigma Planning Corp purchased a new position in shares of HP Inc. (NYSE:HPQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 75,949 shares of the computer maker's stock, valued at approximately $1,459,000.

Several other large investors also recently made changes to their positions in the stock. Garner Asset Management Corp acquired a new position in HP during the fourth quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new stake in HP in the fourth quarter valued at $26,000. SHP Wealth Management acquired a new stake in HP in the fourth quarter valued at $26,000. Sound Income Strategies LLC grew its position in shares of HP by 97.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,312 shares of the computer maker's stock valued at $27,000 after acquiring an additional 646 shares during the period. Finally, Union Savings Bank acquired a new position in shares of HP during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Performance

NYSE HPQ opened at $24.84 on Friday. The stock has a market cap of $22.71 billion, a PE ratio of 9.16, a P/E/G ratio of 4.07 and a beta of 1.19. The firm has a 50-day moving average of $23.76 and a 200-day moving average of $21.12. HP Inc. has a 52-week low of $17.56 and a 52-week high of $29.65.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. The firm had revenue of $14.41 billion for the quarter, compared to analysts' expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The business's revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. As a group, analysts predict that HP Inc. will post 2.98 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.8%. HP's dividend payout ratio (DPR) is 44.28%.

Insider Transactions at HP

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $24.68, for a total value of $259,732.32. Following the transaction, the insider directly owned 92,200 shares of the company's stock, valued at $2,275,496. This represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HPQ shares. Barclays upped their target price on shares of HP from $16.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, May 28th. Morgan Stanley boosted their price target on HP from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, May 28th. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Wall Street Zen cut HP from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings upgraded HP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $23.33.

About HP

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.